Edison Wins Libya Gas Arbitration with Eni

The Court of Arbitration of the International Chamber of Commerce (ICC) has announced that Italian energy group Edison won a dispute with Eni to review the price of its long-term gas contract from Libya.

According to a statement from Edison, which is owned by France's EDF, the court found the price review requested by Edison in 2010 "formally and substantially valid, fully accepting the merits of Edison’s positions".

The overall impact on Edison's 2012 EBITDA is estimated in more than 250 million euros.

The Court will decide on interest, legal costs and on the exact amount due by ENI.

(Source: Edison)

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